56288 Property Tax Rate

Property owners in ZIP code 56288 (Spicer, Minnesota) pay a median of $3,720/year in property taxes on homes valued at $380,000. This translates to an effective tax rate of 0.98%, which is near the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56288 is approximately $310, which factors into escrow payments on mortgages. This ZIP code is located within Kandiyohi County. This is $1,414 more than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56288 has higher property taxes. ZIP codes with similar effective rates include 56601 (0.98%) and 56001 (0.98%).

In Spicer, property taxes represent approximately 3.5% of the median household income of $105,000, providing context for the relative tax burden on homeowners in this area.

Minnesota's homestead classification system taxes primary residences at a lower assessment rate than rental or commercial property, providing immediate tax savings at purchase. File your homestead application with the Kandiyohi County Assessor's office by December 31 of the year following your purchase to qualify for the reduced tax class. Contact the Kandiyohi County Assessor to submit your homestead application and verify your property's classification status.